As One Of My Older

It's A Nightmare To Administer Some Of This Sort Of Thing, But I Want To Tell The Shareholders Of Berkshire, To The Percent We Own Marketable Securities Or Things For Which There Are Market, Even If Those Markets - I Want To Tell Them What It's All About.

Be Fearful When The Markets Get Greedy, Be Greedy When The Markets Get Fearful.

Forecasts Usually Tell Us More Of The Forecaster Than Of The Forecast

In The End, Alchemy, Whether It Is Metallurgical Or Financial, Fails. A Base Business Can Not Be Transformed Into A Golden Business By Tricks Of Accounting Or Capital Structure. The Man Claiming To Be A Financial Alchemist May Become Rich. But Gullible Investors Rather Than Business Achievements Will Usually Be The Source Of His Wealth.

Continually Challenge And Be Willing To Amend Your Best Loved Ideas.